IrDA
SC issues Notice over health insurance for Mental Illness
On June 16, 2020, the Supreme Court of India issued notice to the Insurance Regulatory Development Authority (IRDA) and the Union Government on providing Health Insurance for mental illness. Highlights In 2018, the IRDA had issued a circular asking all ..
Month: Current Affairs - June, 2020
Cabinet Approval: Capital Infusion in three public sector Units OICL, UIICL and NICL
On February 12, 2020, the Union Cabinet approved on capital infusion in three Public Sector Units namely United India Insurance Company (UIICL), Oriental Insurance Company Limited (OICL) and National Insurance Company Limited (NICL). Highlights During the meet the cabinet also ..
Month: Current Affairs - February, 2020
FM chairs 20th Meeting of FSDC
The 20th Meeting of Financial Stability and Development Council (FSDC) was held under the Chairmanship of Smt. Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs. Key Highlights of Meeting The Meeting reviewed current global and domestic economic situation, overall ..
Month: Current Affairs - June, 2019
Finance Ministry constitutes committee to consolidate regulation of pension products
The Union Finance Ministry has constituted a high-level committee to consolidate the regulation of pension products that is currently being done by three different watchdogs including insurance and stock market regulators. The committee would have representatives from all financial sector ..
Month: Current Affairs - October, 2016
Bancassurance
Bancassurance or Bank Insurance Model refers to the distribution of the insurance and related financial products by the Banks whose main business is NOT insurance. So, simply Bancassurance, i.e., banc + assurance, refers to banks selling the insurance products In ..
Union Cabinet gives nod to 49% FDI in insurance sector
The Union Cabinet approved the proposal of increasing the Foreign Direct Investment (FDI) limit in the insurance sector to 49% from the existing 26%. The move is in sync with the proposal made by Finance Minister Arun Jaitley in his ..
Month: Current Affairs - July, 2014